On Thursday night's episode of the Channel Ten news program, Aly slammed the youngest of the family - Kylie Jenner - who graced the cover of Forbes Magazine and was labeled a 'self-made' billionaire.
The 20-year-old entrepreneur featured in the US business magazine as part of its 60 richest self-made women feature.
Waleed unleashed his frustration at the publication for calling the reality star 'self-made.'
Waleed took issue with the fact that it was claimed Kylie started her 'empire' from nothing.
"So, in what way is she self-made?" Waleed asked the panel. "She didn't have a lemonade stall somewhere and build it up."
Tommy Little hit back, claiming Waleed had a problem with the beauty moguls young age.
Waleed hit back: "That's not why I'm knocking her down. I'm knocking her down because she is part of an empire that doesn't do anything."
"Well, they make money," Tommy replied.
Forbes reveals that Kylie has amassed a fortune of US $900 million ($1.2billion AU) since launching her cosmetics line Kylie Cosmetics in 2015.